Vietnam's Hoa Phat inks long-term contract with Olderndorff … – SteelOrbis

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The contract will help the company actively control sea freight rates in the context of volatile freight rates globally. In addition, by signing a contract to transport iron ore with Oldendorff, Hoa Phat has stabilized freight prices in the case of large fluctuations in freight rates. 
Meanwhile, Hoa Phat Shipping Company directly owns a fleet of three vessels with a capacity of 80,000-90,000 mt for transporting bulk cargo, serving part of the demand for transporting coal and ore materials for Hoa Phat Group.
Especially, when the phase 2 of Dung Quat Hoa Phat Steel Integrated Complex project is completed, Hoa Phat Group’s demand for imported production materials will increase sharply.
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